Speight v. Branch Banking & Trust Co.

Eeduced to its last analysis, the question here presented is this: When the wife is surety on the note of her husband and executes a mortgage on ber land as security for bis debt, and tbe husband subsequently buys tbe land at a sale under tbe mortgage, pays off tbe debt with bis own money, and takes title to tbe land to himself, will a court of equity impress on tbe legal title thus acquired a trust in favor of tbe wife?

We think tbis question must be answered in tbe affirmative.

It is admitted tbat tbe plaintiff signed tbe note as surety for ber bus-band, James E. Speigbt, and tbat she…